Ripple contributes XRP to $500 million Evernorth fund, NASDAQ debut set

Ripple CEO Brad Garlinghouse announced that his company has allocated a significant amount of XRP tokens to Evernorth, a nearly $500 million corporate treasury fund. The fund is scheduled to begin trading on NASDAQ this week and will use XRP as its sole asset. Garlinghouse, who leads the San Francisco-based blockchain payments firm, stated that Ripple’s product strategy has shifted towards offering more institutional solutions. He explained that these products go beyond simple “buy and hold” scenarios for digital assets, emphasizing the importance of providing broader utility to financial institutions. Speaking at the Evernorth closing bell ceremony, Garlinghouse reaffirmed the company’s commitment to XRP as the centerpiece of its ecosystem.

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